Why would you need to get rid of charged-off debt?  If you asked that question when you read the title of this blog, it's because you think that "charged-off" means "forgiven."  Many people who come to our office are under this impression.  Don't be confused, these are two totally different things.

When creditors say a debt has been charged off, it means that they have determined that it's uncollectable and entered it in their books as a loss.  It does not mean, as many people believe, that you no longer owe them the money.  You still owe the money for these debts, and a creditor can use all of the legal tools available in order to collect on them.  On the other hand, a forgiven debt is one that the creditor agreed is no longer owed.

So don't be caught owing money for debts that you thought were forgiven.  In order to avoid being hounded by creditors and collection agencies, having wages garnished, or having money taken from your bank account for charged-off debts, consult with a reputable professional, such as a bankruptcy attorney.